National Bankshares Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

Key Points

• Equities research analysts at National Bankshares have raised their target price for AutoCanada from C$28.00 to C$36.00, indicating a potential upside of 13.53% from the current stock price.
• Several other analysts have also increased their price targets, with BMO Capital Markets setting a new target at C$40.00 and Canaccord Genuity raising theirs to C$28.00.
• The consensus rating for AutoCanada stock is currently "Moderate Buy", with five analysts giving a hold rating, four a buy rating, and one a strong buy rating.

AutoCanada (TSE:ACQ - Get Free Report) had its price objective hoisted by equities researchers at National Bankshares from C$28.00 to C$36.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price target would suggest a potential upside of 14.65% from the stock's previous close.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group boosted their target price on AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research report on Monday, July 14th. BMO Capital Markets raised AutoCanada from a "hold" rating to an "outperform" rating and upped their price target for the stock from C$20.00 to C$40.00 in a research report on Thursday, August 14th. Cibc World Mkts raised shares of AutoCanada from a "strong sell" rating to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada increased their target price on shares of AutoCanada from C$18.00 to C$27.00 in a research note on Tuesday, July 22nd. Finally, CIBC raised their price target on shares of AutoCanada from C$23.00 to C$27.50 in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$32.21.

AutoCanada Stock Performance

Shares of AutoCanada stock traded down C$0.95 on Thursday, hitting C$31.40. 40,191 shares of the company's stock were exchanged, compared to its average volume of 29,784. The company has a 50-day simple moving average of C$25.34 and a 200-day simple moving average of C$20.39. The stock has a market capitalization of C$730.73 million, a PE ratio of -14.49, a PEG ratio of 0.30 and a beta of 2.54. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$33.87. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03.

Insider Activity at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average price of C$19.78 per share, with a total value of C$96,548.36. Over the last quarter, insiders have acquired 7,440 shares of company stock valued at $151,743. Company insiders own 4.90% of the company's stock.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru.